All of the following illustrate potential shortcomings of using patents to promote innovation, except: Select the correct answer below: Patents may sometimes cover too much or be granted too easily. In fast-moving, high-technology industries, patents may be irrelevant by the time they're approved due to changing technology. Not every new idea can be protected with a patent or a copyright. Patents don't allow for the inventor to earn a good return on an invention.

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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All of the following illustrate potential shortcomings of using patents to promote innovation, except:
Select the correct answer below:
Patents may sometimes cover too much or be granted too easily.
In fast-moving, high-technology industries, patents may be irrelevant by the time they're
approved due to changing technology.
O Not every new idea can be protected with a patent or a copyright.
Patents don't allow for the inventor to earn a good return on an invention.
Transcribed Image Text:All of the following illustrate potential shortcomings of using patents to promote innovation, except: Select the correct answer below: Patents may sometimes cover too much or be granted too easily. In fast-moving, high-technology industries, patents may be irrelevant by the time they're approved due to changing technology. O Not every new idea can be protected with a patent or a copyright. Patents don't allow for the inventor to earn a good return on an invention.
Expert Solution
Step 1

Inventors are given patents, which allow them the exclusive right to create and sell their ideas for a set period of time. The inventor will be protected against other people or firms selling or creating their invention during this time period.

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